Hey I might be moving back to my hometown and that is where I have been wanting to invest by using the BRRRR method. I'm trying to decide if I should buy a rental home or buy my first house and try to house hack. The rental home is almost a sure thing when it comes to having tenants however i don't know how sure I'd be of having someone to househack with. Should I just move into an apartment and buy a rental house? Should I buy my first house and a rental property? Any suggestions are greatly appreciated!
I will suggest to by a duplex or a fourplex which is you can buy with low down payment. You can live in one of the units and rent the rest which will pay for your mortgage. You will only need to put down 3.5 percent plus closing cost
House hacking seems a safer way to invest while living on property. You will make mistakes and it just seems better to learn from them with minimum cost of entry because of the smaller down payment, the rent from another family to help cover the mortgage, and getting to know the type of tenants properties like yours attracts.